Systemair AB Interim Report Q3 2016/17 - Organic growth in all regions
Press Release, February 23, 2017
Third quarter, November 2016 - January 2017
- Net sales increased by 21.1 percent to SEK 1,715 million (1,416).
- Organic growth was 12.2 percent (-1.2).
- Operating profit (EBIT) totalled SEK 105 million (30).
- The operating margin was 6.1 percent (2.1).
- Profit after financial items totalled SEK 75 million (25).
- Profit after tax amounted to SEK 51 million (13).
- Earnings per share equalled SEK 0.98 (0.25).
- Cash flow from operating activities amounted to SEK 209 million (38).
Roland Kasper, President and CEO, comments:
"During the third quarter, organic growth reached 12.2 percent. Growth was healthy in many countries and especially good in Turkey, Norway, Denmark and France. Earnings continued to improve compared with the preceding year, partly explained by a calendar effect. Adjusted operating profit for the quarter was SEK 120 million, compared to SEK 40 million for the same quarter the preceding year. The restructuring costs for the quarter were SEK 15 million."
For further information contact:
Roland Kasper, CEO, + 46 73 094 40 13, +46 222 440 13
Anders Ulff, CFO, + 46 70 577 40 09, +46 222 440 09
Systemair AB, SE-739 30 Skinnskatteberg, Sweden, +46 222 440 00, www.systemair.com
Note: The information here is that which Systemair AB has willingly chosen to make public or that which it is obliged to make public according to the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was published at 08:00 (CET) on February 23, 2017.
Systemair in brief
Systemair is a leading ventilation company with operations in 49 countries in Europe, North- and South America, the Middle East, Asia and South Africa. The Company had sales of SEK 6.1 billion in financial year 2015/16 and currently employs about 5,000 people. Systemair has reported an operating profit every year since 1974, when the Company was founded. During the past 15 years, the Company's growth rate has averaged about 12 percent.
Systemair has well-established operations in growth markets. The Group's products are marketed under the Systemair, Frico, VEAB, Fantech, Menerga and Holland Heating brands. Systemair shares have been quoted on the Mid Cap List of the OMX Nordic Exchange in Stockholm since October 2007. The Group comprises about 60 companies.